What would happen if employees got paid in Bitcoin? Share your opinions!

Elwar

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That would be great, but I think we are not ready yet about that. Salary is given by our company in fixed amount periodically. But, with its unstable price, it would be an advantage or disadvantage for us, which we will get different value every payday. E.g, we get 1BTC as our monthly salary. In first month 1BTC is equals to US$300, but in next month it could be US$270. We have to use stable currency as our salary imo.

Ya, I don't think anyone every suggested getting paid in the same bitcoin value each check. We're not there yet.

bitcart

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I pay my web developers in btc. From a business point of view it's much easier dealing in the single global currency rather than using my bank to transfer money to a different country in a different currency with fees and waiting time.

Mostly I see it as an advantage for the employee because it's a lot quicker than waiting for cheques and bank transfers to clear. Even if the employee needs to take a couple of days to cash out their btc on an exchange they possess their earnings a lot quicker than traditional methods so they are happier being paid in btc.

At least I speak for people who use the technology. I don't think a non-user would like to be paid in btc.

Luqman

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Quote from: Kazimir on August 19, 2015, 05:03:50 AM

I receive part of my salary in BTC. Works absolutely fine. Obviously it helps that in my area, I can pay quite some of my daily expenses with it.

Which country do you lived budy?

Mickeyb

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I think this will eventually happen, but I also think we are not ready for this, Bitcoin is too young. I mean look at last night, we have went from $250 and wehave touched $166 on Bitfinex. Need I say more? We are just not stable enough yet.

Also to answer your second part of the question, of course this would have only positive impact on the price, if salaries would be paid in bitcoins. This would give us much wider adoption.

kenbytes

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i know who is paid on bitcoin and is verry good if you work on bitcoin industry ...i`m paid to in bitcoin and i like it

)

Elwar

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Quote from: micky123 on August 19, 2015, 09:12:55 AM

Quote from: Elwar on August 19, 2015, 08:55:58 AM

Quote from: micky123 on August 19, 2015, 08:43:39 AM

Quote from: Elwar on August 19, 2015, 08:08:45 AM

Quote from: mattiadeabtc on August 19, 2015, 07:57:01 AM

It would be great, but not all the salary i think about a 30% is good in btc.
If we have this dump you earn 20% less than you salary

I get paid in bitcoins. The dump sucks, especially since I was just paid on Friday. But I get paid again next Friday. I have a few big things I need to pay for but I'll wait until next Friday.

I usually have several things I save up to spend on until the price jumps. I put a down payment for a cruise when the price was $290. Booked a flight to Denmark around $280.

Now I just need to book a hotel room for Denmark but I can wait until I get paid (or the price goes above $270).

You are an extremely brave person to get your entire wage in Bitcoin, there is far too much volatility for me to consider getting my entire wage in Bitcoin. A small amount is quite reasonable for me, since i buy bitcoins with a part of my wages anyway! 1% is not very bad considering the premiums i end up paying on Localbitcoins. Some of those guys are real assholes and they form a syndicate to keep the price way above 1% premium. I wish we had proper exchanges in my country, but in a country where people still look at Bitcoin as "Criminal Currency" this is as good as it gets!

Edit: I will run this idea by payroll again and see if they can pay most to my regular account and some to an alternate account (bitwage one). My country comes up in the list when i try to register, so hopefully this is possible to do!

If you're getting paid in Bitcoin...then you can be one of those localbitcoin people charging a lot.

Where I am the localbitcoin price is high as well. I get paid in bitcoins but convert it to euros and charge 10%. Most months I can pay for rent and food just from the extra 10%.

Lol, no offence meant to you! Cheesy

You must be earning really well if that 10% can pay for rent and food! Wish i had big balls of steel like you, last time i checked they were small and wimpy Tongue

Well it's not 10% of my salary...I cycle money through the bank and back to bitcoin constantly through the month.

So much that Deutsche bank dropped me Undecided

micky123

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Quote from: Elwar on August 19, 2015, 08:55:58 AM

Quote from: micky123 on August 19, 2015, 08:43:39 AM

Quote from: Elwar on August 19, 2015, 08:08:45 AM

Quote from: mattiadeabtc on August 19, 2015, 07:57:01 AM

It would be great, but not all the salary i think about a 30% is good in btc.
If we have this dump you earn 20% less than you salary

I get paid in bitcoins. The dump sucks, especially since I was just paid on Friday. But I get paid again next Friday. I have a few big things I need to pay for but I'll wait until next Friday.

I usually have several things I save up to spend on until the price jumps. I put a down payment for a cruise when the price was $290. Booked a flight to Denmark around $280.

Now I just need to book a hotel room for Denmark but I can wait until I get paid (or the price goes above $270).

You are an extremely brave person to get your entire wage in Bitcoin, there is far too much volatility for me to consider getting my entire wage in Bitcoin. A small amount is quite reasonable for me, since i buy bitcoins with a part of my wages anyway! 1% is not very bad considering the premiums i end up paying on Localbitcoins. Some of those guys are real assholes and they form a syndicate to keep the price way above 1% premium. I wish we had proper exchanges in my country, but in a country where people still look at Bitcoin as "Criminal Currency" this is as good as it gets!

Edit: I will run this idea by payroll again and see if they can pay most to my regular account and some to an alternate account (bitwage one). My country comes up in the list when i try to register, so hopefully this is possible to do!

If you're getting paid in Bitcoin...then you can be one of those localbitcoin people charging a lot.

Where I am the localbitcoin price is high as well. I get paid in bitcoins but convert it to euros and charge 10%. Most months I can pay for rent and food just from the extra 10%.

Lol, no offence meant to you! Cheesy

You must be earning really well if that 10% can pay for rent and food! Wish i had big balls of steel like you, last time i checked they were small and wimpy Tongue

Elwar

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Quote from: micky123 on August 19, 2015, 08:43:39 AM

Quote from: Elwar on August 19, 2015, 08:08:45 AM

Quote from: mattiadeabtc on August 19, 2015, 07:57:01 AM

It would be great, but not all the salary i think about a 30% is good in btc.
If we have this dump you earn 20% less than you salary

I get paid in bitcoins. The dump sucks, especially since I was just paid on Friday. But I get paid again next Friday. I have a few big things I need to pay for but I'll wait until next Friday.

I usually have several things I save up to spend on until the price jumps. I put a down payment for a cruise when the price was $290. Booked a flight to Denmark around $280.

Now I just need to book a hotel room for Denmark but I can wait until I get paid (or the price goes above $270).

You are an extremely brave person to get your entire wage in Bitcoin, there is far too much volatility for me to consider getting my entire wage in Bitcoin. A small amount is quite reasonable for me, since i buy bitcoins with a part of my wages anyway! 1% is not very bad considering the premiums i end up paying on Localbitcoins. Some of those guys are real assholes and they form a syndicate to keep the price way above 1% premium. I wish we had proper exchanges in my country, but in a country where people still look at Bitcoin as "Criminal Currency" this is as good as it gets!

Edit: I will run this idea by payroll again and see if they can pay most to my regular account and some to an alternate account (bitwage one). My country comes up in the list when i try to register, so hopefully this is possible to do!

If you're getting paid in Bitcoin...then you can be one of those localbitcoin people charging a lot.

Where I am the localbitcoin price is high as well. I get paid in bitcoins but convert it to euros and charge 10%. Most months I can pay for rent and food just from the extra 10%.

micky123

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Quote from: Elwar on August 19, 2015, 08:08:45 AM

Quote from: mattiadeabtc on August 19, 2015, 07:57:01 AM

It would be great, but not all the salary i think about a 30% is good in btc.
If we have this dump you earn 20% less than you salary

I get paid in bitcoins. The dump sucks, especially since I was just paid on Friday. But I get paid again next Friday. I have a few big things I need to pay for but I'll wait until next Friday.

I usually have several things I save up to spend on until the price jumps. I put a down payment for a cruise when the price was $290. Booked a flight to Denmark around $280.

Now I just need to book a hotel room for Denmark but I can wait until I get paid (or the price goes above $270).

You are an extremely brave person to get your entire wage in Bitcoin, there is far too much volatility for me to consider getting my entire wage in Bitcoin. A small amount is quite reasonable for me, since i buy bitcoins with a part of my wages anyway! 1% is not very bad considering the premiums i end up paying on Localbitcoins. Some of those guys are real assholes and they form a syndicate to keep the price way above 1% premium. I wish we had proper exchanges in my country, but in a country where people still look at Bitcoin as "Criminal Currency" this is as good as it gets!

Edit: I will run this idea by payroll again and see if they can pay most to my regular account and some to an alternate account (bitwage one). My country comes up in the list when i try to register, so hopefully this is possible to do!

Kazimir

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Quote from: Xialla on August 19, 2015, 06:41:16 AM

Quote from: Kazimir on August 19, 2015, 05:03:50 AM

I receive part of my salary in BTC. Works absolutely fine. Obviously it helps that in my area, I can pay quite some of my daily expenses with it.

hello time traveler, welcome to the past..from which year you come from?

ahh now seriously;) how did you manage to pay daily expenses with bitcoin? I would like to do also, but I don't see any possibility. can you share little bit about? You are some freelancer renting flat in house of tech. geek or something like this?

As micky123 already guessed, I currently live in the Netherlands and yes, Bitcoin adoption is taking off here

(at least compared to other countries, in absolute numbers it's still very small of course).
I can pay with Bitcoin for groceries, lunch, dinner (both takeout and restaurants), phone bill, rent, clothes, car, and lots more.

Strangely enough, the only place where I still have to pay with euros is the local coffeeshop

(FYI: in the Netherlands, a "coffeeshop" is where you buy weed)
Then again, drugs and fiat money have always been strongly related so it's not that surprising.

Metadextrous

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Not a good idea for someone lives in my area (south east asia) because bitcoin is still not widely accepted as a payment method

gripflierGO

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Quote from: mattiadeabtc on August 19, 2015, 07:57:01 AM

It would be great, but not all the salary i think about a 30% is good in btc.
If we have this dump you earn 20% less than you salary

Right, getting paid in BTC is a good thing but again every coin has two sides and so does the bitcoins, if we get paid in bitcoins then the value of bitcoins would really matter, if the value is high then its profit for us, but if the value goes down, then it would be a bigger loss, salary in bitcoins is only good if the value of bitcoins is stable and thats what all we want.

Elwar

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Quote from: mattiadeabtc on August 19, 2015, 07:57:01 AM

It would be great, but not all the salary i think about a 30% is good in btc.
If we have this dump you earn 20% less than you salary

I get paid in bitcoins. The dump sucks, especially since I was just paid on Friday. But I get paid again next Friday. I have a few big things I need to pay for but I'll wait until next Friday.

I usually have several things I save up to spend on until the price jumps. I put a down payment for a cruise when the price was $290. Booked a flight to Denmark around $280.

Now I just need to book a hotel room for Denmark but I can wait until I get paid (or the price goes above $270).

mattiadeabtc

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It would be great, but not all the salary i think about a 30% is good in btc.
If we have this dump you earn 20% less than you salary

ticoti

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I say it clear

They would use in bitcoin in what they would be able,and they would change it to dollars to spend it in other things or save it( at least a part of it)

S4VV4S

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Quote from: UMP Fourty 5 on August 19, 2015, 01:50:06 AM

What do you think would happen if employees got paid in BTC? Would it make a change to the btc world?
Will BTC be accepted in real life markets? Do you think the price of BTC would change? If so, higher or lower?
Share your opinions.

That depends on location IMO.
If you are living in an area who is favourable to Bitcoin then you will save your self quite some money.
If you live in an area who is not favourable on Bitcoin you will lose money from TX/exchange fees.

Elwar

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Quote from: micky123 on August 19, 2015, 06:54:58 AM

Quote from: Elwar on August 19, 2015, 05:00:49 AM

Quote from: micky123 on August 19, 2015, 04:58:24 AM

Quote from: UMP Fourty 5 on August 19, 2015, 01:50:06 AM

What do you think would happen if employees got paid in BTC? Would it make a change to the btc world?
Will BTC be accepted in real life markets? Do you think the price of BTC would change? If so, higher or lower?
Share your opinions.

I tried to get HR to pay me in Bitcoin in my organization. Should not be too much of a problem since the company accepts Bitcoin as a payment option. However, they laughed off the suggestion and told me that it would be an accounting nightmare for payroll and advised me against it as the government would not take too kindly to it as well. Apparently, the government only accepts taxes which are deducted at source in fiat. Methinks it was laziness on the part of payroll which led to the canning of my idea, they clearly did not want to be too burdened with additional work citing short staffing! Angry

Couldn't you use BitWage?

Interesting concept, i am sure they were not around at the time i asked for this (about a year ago i suppose, it was). How reliable are they? I might re-consider asking for part of my salary in BTC, considering the volatility. With the number of Bitcoin scams going around, i am a little paranoid about stuff like this. Have you or anyone else used their service. What do they mean by "We put bitcoin, local currency, and Gold in your address the next day after deposit", so they put regular fiat, bitcoin and gold in the account? Gold of course should be in the form of etf or something similar, how much Bitcoin and how much fiat do they put into the account? Will they accept part payment of salary in Bitcoin, i doubt that is the case. Also, payroll will not accept splitting of salary into two bank accounts, which can be another headache for me. This service would work well for me, because i convert a small part of my salary into Bitcoin anyhow... the only issue is i buy btc at a premium from LBC as there are no reliable exchanges in my country.

Ahh, they only serve the US right now.

I have been converting 100% of my paycheck to bitcoins since January. They convert my direct deposit directly to a bitcoin address I provided them. I just give my employer a direct deposit number they provide. I have noticed that the exchange rate they provide is about 1% above current exchange prices. But that's how much Coinbase charges so no big deal for the advantage of avoiding my bank account.

Soros Shorts

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Quote from: Elwar on August 19, 2015, 03:44:29 AM

If you work in the US you can get paid in Bitcoin if your pay is direct deposited.

Use http://www.bitwage.co

More and more people are getting paid in Bitcoin weekly.

I've set it up so that I get about 5% of my salary this way.

Daniel91

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Well, this is very interesting idea but my country is not ready for such a revolutionary idea.
We just got, a few months ago, our first bitcoin ATM in country.
There are very few places where you can actually spend bitcoins or use it.
Very few people use bitcoin or knows something about it.
Earlier this year, I really struggled to fill out a tax return because in my country is not yet possible to directly report earnings from the Internet.
I guess, this idea about salary in bitcoin will not become realistic in the near future.
However, I hope that this idea will soon become reality in some other countries, where the bitcoin has a much bigger foundation.

micky123

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Quote from: Xialla on August 19, 2015, 06:41:16 AM

Quote from: Kazimir on August 19, 2015, 05:03:50 AM

I receive part of my salary in BTC. Works absolutely fine. Obviously it helps that in my area, I can pay quite some of my daily expenses with it.

hello time traveler, welcome to the past..from which year you come from?

ahh now seriously;) how did you manage to pay daily expenses with bitcoin? I would like to do also, but I don't see any possibility. can you share little bit about? You are some freelancer renting flat in house of tech. geek or something like this?

I am assuming he is from Netherlands, AFAIK, Netherlands has tremendous Bitcoin adoption, well.. compared to other countries anyway. They have plenty of Bitcoin atms and i read an article some time ago about Bitcoin being accepted in the CBD or something similar. I use the blockchain phone app and i always use the map on it when i visit any city in my country in the hope there is some place accepting btc, but i am always dis-appointed. Recently though, i have found a couple folks who pay my internet, cable and phone bills in exchange for Bitcoin, so in a sense i am using my BTC to buy something, and that makes me happy!

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